that you have no desire to proceed in food faith as we

err, food should either be corrected or at least have a ‘sic’ somewhere.

2) She’s a scumbag.

LEAD, FOLLOW, GET OUT OF THE WAY, OR PREPARE FOR YOUR IMPEACHMENT!!!

I apologize for not holding all knowledge.

tom daschle concerned on December 14, 2012 at 12:38 PM

I didn’t mean to criticize you for it. I was just trying to see if that’s what you meant by your wtf? I was wondering if that was an expression of surprise, or if it was your post-analysis criticism.

I apologize for my stupid question to you. Seriously.

seems like an interesting approach to raising private capital in our social media age,

Yes, that’s the intent. It’s to allow small scale entrepreneurs to reach more than just their currently existing “friends and family” (which have always been valid targets of capital raises).

Obviously, the potential exists for greater fraud to occur, so the law requires SEC to define certain limitations. It seems as if the SEC chairwoman is too worried about her political career to do this. She seems too worried about being labeled as either constraining growth or allowing excessive fraud. So, she seems to be paralyzed about moving forward. It’s terrible that she can’t simply decide what SHE thinks is best and put it out there.

That being said, she’s a regulator, and regulators do what regulators do. They over regulate. I have no doubt that the eventual rules will make the law almost useless.

The developers went to the SEC several times, hired a very expensive law firm (they actualyl had trouble finding a law firm because most were not interested in taking on the SEC) and paid for the legal work out of their own pockets. It took them 6 months of wrangling and they had to turn in over 1200 pages of documentation and disclosures, copied 6 times.

From what I understand, current SEC rules require that only “certified investors” may invest in a piece of a commercial property. This law is intened to prevent swindlers from selling 100% of a property to unwitting individuals. But it also prevents projects like the one in DC from getting off the gorund. As a result, what you see in cities like DC is huge redevelopment projects that usually end up being high-end condos and office buildings that all look the same and do nothing for the neighborhood, and they are built by big developers that get their capital from professional investors in places like New York and California.

If Mary Schapiro is dragging her feet on this rule that would lossen these strict requirements for investors, it is probably becasue she is terrified of some people down the road making bad investments in crowdsourced projects and getting ripped off. This is something that certainly could be abused, but the existing law has had very bad unintended consequences.

I believe it’s already legal as per the law. However, SEC has yet to define some of the limitations on it – which means that anyone doing it is kinda at risk of violating securities laws.

blink on December 14, 2012 at 11:39 AM

no I haven’t heard of it until now. I apologize for not holding all knowledge.

seems like an interesting approach to raising private capital in our social media age, but the government is likely to ruin it by the time the rules get set. we no longer have free markets and rule of law. so whatever.

Obama’s Washington. Filled with these officious incompetents.

pat on December 14, 2012 at 12:16 PM

Obama is not a leader. On top of that, he is a narcissistic demagogue. Therefore, there is no way he will appoint anyone who could be a threat to his “superior knowledge” on any and every subject. Thus, we should not be surprised that he has staffed his regime with incompetents and boobs. There will be no one in his regime more competent than he is. Given the fact that he really is not that competent at anything other than getting elected (and that required the full and complete complicit cooperation of every arm of the US Main Stream Media), it follows that nobody in the Obama regime will be either competent nor all that intelligent.

Real leaders look for the best and brightest, even if those people are better at some things than the leader. Leaders don’t feel threatened by this, but have the ability to bring the strengths of those people they hire to excel at what they attempt. We don’t have one of those as President.

I am speaking against my own interest. Maybe, just maybe, I could use this. I would rather stay without funds than see the whole economy ripped off, though.

Anyway, when you look at things like this remember the Sheperds or whatever their name was, who were harpooned on SNL. What was it? They made 11 Billion on 24 Billion in bad loans to Wachovia? I am speaking from memory. bad memories in memory, in fact.

I think it is Rule 506 that is the latest free pass for developers and promoters to fleece the sheepie.

I would rather have a regulator worried about the long run.

Our leader should have this woman looking at the green industry before they get taxpayer money or guarantees.

Since the Dems love to blame president bush and Wall Street for the last mess, I love to quote such people as Mayor Bloomberg:

” It was not the banks that created the mortgage crisis. It was, plain and simple, Congress who forced everybody to go and give mortgages to people who were on the cusp. Now, I’m not saying I’m sure that was terrible policy, because a lot of those people who got homes still have them and they wouldn’t have gotten them without that.” Bloomberg’s sage comments to Occupy Wall Street 12/1/2011

BTW, Bloomberg was very kind to me and my late wife when we looked at a nice black and white car he was selling. Maybe he has his faults but he is good to (irritating poor) people.

Why is the SEC delaying a bipartisan effort to encourage capital investment?

Because Erick Holder is reading the Permanent records of all the investors in question.

crowd sourcing capital for projects?

wtf

tom daschle concerned on December 14, 2012 at 11:28 AM

Yes, have you not heard about this, yet?

I believe it’s already legal as per the law. However, SEC has yet to define some of the limitations on it – which means that anyone doing it is kinda at risk of violating securities laws.

Even if she had immediately given into the lobbyist by allowing a prolonged comment period (90 days), then the crowdsourcing rule would probably already be in place.

But as it turns out, Mary Schapiro’s indecision on this issue seems to have delayed the rule even LONGER than the 90 days (about 6 months now).

Please help me out here. Am I looking at this correctly?

dentarthurdent on December 14, 2012 at 11:30 AM

Ooops – my mistake – They were #2 and #3. I guess they haven’t knocked of Notre Dame yet…..

Don’t expect congress to do anything about this, unless this will put money in someone’s pocketses.

Oh, wait, what? Not that SEC? My mistake……

wtf